Crypto didn’t keep pace with last night’s rebound in U.S. stocks. Major coins stayed weak throughout the day, with Bitcoin hovering around $73,000. More importantly, tonight’s session could bring a new twist: Nvidia is down both after hours and premarket, and Nasdaq futures have turned lower. U.S. markets open in about two hours, and crypto will likely move along with them.
Data from CoinGecko, at approximately 20:15 Beijing time.$BTC 73010, down 1.16% over 24 hours, with a range of 72,720 to 74,695. It climbed to around 74,700 during the day but couldn’t hold there, and has since returned to around 73,000. Today’s low of 72,720 is close to the three-month low of 72,695 set around November 10. If Nvidia keeps sliding tonight, watch whether the 72,700–73,000 range holds; to move back up, Bitcoin first needs to reclaim 75,000.
ETH at 2,026, down 1.28%, ranging from 2,015 to 2,097. It’s still above 2,000, but remains fragile. BNB at 664, down 2.37%, notably weaker than Bitcoin. SOL at 82.67, down 1.23%. XRP at 1.038, down 1.51%, still just above $1. DOGE at 0.0667, down 2.13%. Total market cap is around $2.42 trillion, with Bitcoin dominance at about 60.5%. The Fear & Greed Index is at 28, still in fear territory, down from 29 yesterday.
There weren’t many gainers. Midnight (NIGHT) rose about 6.9%, and Gram (formerly Toncoin, GRAM) gained about 4.7%. PEPE was among the hardest hit, down about 10.9%; NEAR, ARB, AAVE, and ENA also fell 7% to 8%. The NVIDIA token on Binance $NVDAB fell about 8%, already pricing in news from the U.S. stock market.
Spot buying was subdued, while futures trading volume and open interest both declined. The immediate pressure is still coming from outflows. SoSoValue data shows that U.S. spot Bitcoin ETFs saw net outflows of about $300 million on Wednesday, marking a fifth consecutive trading day of outflows and bringing the total since November 5 to around $1.44 billion. BlackRock’s IBIT alone saw about $270 million in outflows, its ninth consecutive day. Spot Ethereum ETFs also saw outflows of around $145 million that day, likewise extending their streak to five days. Crypto spot ETFs saw combined outflows of about $465 million. On top of hotter-than-expected inflation data earlier, the market is now pricing in a December Fed rate hike at roughly 90% probability, weighing on risk appetite.
In U.S. markets, November 11 is Veterans Day. The stock market is open as usual, while bond markets are closed. At Wednesday’s close, the Dow was at 52,486.49, up 254.60 points (0.49%); the S&P 500 was at 7,619.38, up 98.45 points (1.31%); and the Nasdaq was at 25,466.19, up 400.32 points (1.60%). Data from the Associated Press and Xinhua.
Yesterday was a rebound for AI stocks. The technology sector gained about 2.7%. CoreWeave surged around 24.7% to close at $60.77 after its quarterly results and guidance beat expectations, helping the Nasdaq and S&P 500 recover some of last week’s losses. NVIDIA also rebounded about 2.9% during regular trading, closing at $173.73.
But sentiment shifted after the close. The New York Times and Wall Street Journal both reported on the relationship between Jensen Huang and company executives, and said the board was discussing whether to replace the CEO. There’s no official outcome yet, so don’t treat claims in the news as confirmation that anyone has been replaced. Yahoo Finance premarket quotes, at around 20:17 Beijing time: NVIDIA was about $160.29, down roughly 7.7% from Wednesday’s close; CoreWeave had pulled back to around $57, down 6.2%; Strategy (MSTR) was around $115.40, down 5.7%. AMD and Broadcom were still slightly higher premarket.
Index futures: Dow futures were nearly flat at 52,582, up 0.01%; S&P 500 futures were at 7,608, down 0.43%; Nasdaq 100 futures were at 28,212, down 0.92%. Tech stocks are likely to face pressure at the open tonight.
Also, MSCI confirmed in its November index review that Strategy (MSTR) will be removed from the MSCI USA and related global indexes after the November 30 close. Passive funds may continue selling for some time, which is negative for Bitcoin-related stocks and sentiment.
Things to watch from tonight into tomorrow, all times Beijing time. At 21:30, U.S. initial jobless claims are due, with a forecast of 191,000 versus 189,000 previously; Cleveland Fed President Hammack will also speak. U.S. markets open at 22:30, so watch how NVIDIA and chip stocks are priced. Several Fed officials will speak overnight: Barr, Goolsbee, Daly, Schmid, and New York Fed President Williams. Nebius reports before the market; Cisco (CSCO), Applied Materials (AMAT), and Cerebras report after the close. PPI is due around 21:30 Friday night—the next key inflation data point this week. The December 8–9 Fed meeting is approaching, and markets are still pricing in a high probability of a rate hike.
There’s also something new on Binance Square today, worth watching if you create content or focus on user acquisition.
Binance Square has launched leaderboards, with four rankings to help users discover and follow top-performing traders. Content mining has also been updated: livestream earnings are ranked separately, and the top 100 creators by weekly base commission will receive additional bonus commissions, with bigger rewards for higher rankings. If you create content or participate in content mining on Square, keep an eye on your ranking and the livestream track over the next few days.
The November Affiliate Dual-Star Program is still running. Its main campaign period is November 1–30 (UTC), with a 500,000 USDC prize pool. Affiliates can earn up to 12,000 USDC, while new-user referral rewards go up to 10 USDC. The campaign focuses on referrals and trading activity. There are less than three weeks left this month, so the opportunity is still open.
Binance Alpha has resumed airdrops and trading competitions today. The Thanksgiving/thank-you airdrop is worth around $350,000. Eligible users will receive the tokens directly in their Alpha account or Binance Wallet, with no manual claim required and no Alpha Points deducted. One of three tokens—KGEN, VELO, or VELVET—will be distributed. There’s also a LAB trading competition with a prize pool of around $200,000, announced today. If you want to participate, read the rules carefully and be aware of the risks—don’t just follow trading calls.
Other opportunities: Button Game offers a chance to win Anthropic bStocks or USDC worth $30,000; limited-time high yields are still available in Yield Arena, including the 5.25% USDe tier, which ends at 07:59 on November 13 (Beijing time); the Lite borrowing fee discount campaign will be extended starting November 13; and the Academy’s Bitcoin quiz still offers BTC rewards this month.
Trading and new listings: HYPEUSDC and TRXUSDC perpetual contracts went live yesterday, and HYPE is now supported in Dual Investment. A batch of TradFi USD stablecoin-margined perpetual contracts has also been added. Convert and Buy/Sell now support direct fiat purchases of bStocks. NVIDIA’s token has fallen sharply today, so think carefully about the risks before trading it.
In short: crypto drifted lower during the day, testing support, while tonight’s main variable is the U.S. market open and NVIDIA. Binance Square’s leaderboard and content mining rules have just been updated, and the November user-acquisition campaign is still open.
Prices and index data are from CoinGecko, Yahoo Finance, SoSoValue, the Associated Press/Xinhua, and relevant Binance announcements, as checked at the time. Investing involves risk. Refer to the official pages for campaign rules.